Alphabet Inc. (NASDAQ:GOOG) Position Increased by Adalta Capital Management LLC

Adalta Capital Management LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,885 shares of the information services provider’s stock after purchasing an additional 450 shares during the period. Alphabet accounts for 0.8% of Adalta Capital Management LLC’s portfolio, making the stock its 28th biggest position. Adalta Capital Management LLC’s holdings in Alphabet were worth $1,502,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. McIlrath & Eck LLC boosted its position in shares of Alphabet by 5.2% in the 4th quarter. McIlrath & Eck LLC now owns 14,283 shares of the information services provider’s stock valued at $2,720,000 after purchasing an additional 708 shares during the period. JDM Financial Group LLC boosted its holdings in shares of Alphabet by 10.6% in the fourth quarter. JDM Financial Group LLC now owns 593 shares of the information services provider’s stock worth $113,000 after buying an additional 57 shares during the period. 10Elms LLP purchased a new position in shares of Alphabet in the fourth quarter worth approximately $305,000. Taylor Hoffman Capital Management LLC raised its holdings in shares of Alphabet by 1.3% during the fourth quarter. Taylor Hoffman Capital Management LLC now owns 6,924 shares of the information services provider’s stock valued at $1,319,000 after acquiring an additional 90 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Alphabet by 14.1% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 962,536 shares of the information services provider’s stock valued at $183,305,000 after acquiring an additional 119,028 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 1,374 shares of Alphabet stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the sale, the chief accounting officer now directly owns 15,024 shares in the company, valued at $2,606,213.28. This trade represents a 8.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the transaction, the insider now directly owns 1,449,286 shares in the company, valued at $265,914,995.28. This trade represents a 1.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 129,744 shares of company stock worth $20,968,366 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on GOOG. Westpark Capital reissued a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Friday, April 25th. KeyCorp dropped their target price on Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Susquehanna restated a “positive” rating on shares of Alphabet in a report on Friday, May 2nd. JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Finally, Benchmark reiterated a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.94.

Alphabet Stock Down 1.5%

Shares of GOOG opened at $165.32 on Wednesday. The company has a market capitalization of $2.01 trillion, a P/E ratio of 20.54, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The business’s 50 day simple moving average is $160.18 and its 200-day simple moving average is $176.66. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.89 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a dividend of $0.21 per share. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.51%. Alphabet’s dividend payout ratio is 9.36%.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.